Standard Chartered Special Foreign Investment Deposit Accounts (SFIDA)


What is SFIDA?

SFIDA or special foreign investment deposit account is one of the most attractive deposit accounts from standard chartered bank specially designed for foreign currency depositors. It’s the best way to enjoy higher interest rates on your money. What’s more SFIDA is exempt from income tax, withholding tax giving you a total tax free return.

How does SFIDA work?

There is no minimum balance requirement for this account. You have the option of maintaining a foreign currency account or converting your foreign currency deposit to Sri Lankan rupees and enjoying a higher interest rate. SFIDA accounts are exempted from income tax, withholding tax.

SFIDA - Guaranteed Return on your deposit

If you wish to maintain your deposit in Sri Lankan rupees we can allocate a conversion rate by booking ahead. Forward booking is a special mechanism introduced by standard chartered bank which allows you a guaranteed return on your deposit.


For more information on Remittances, email us, visit your nearest Standard Chartered Branch or call +94 11 2480 480

SFIDA Eligibility

Citizens of foreign states and Sri Lankan citizens residing outside Sri Lanka
Corporate entities incorporated outside Sri Lanka
Foreign institutional investors such as country funds, mutual funds and regional funds
Citizens of foreign states holding temporary visa to live or work in Sri Lanka
Sri Lankan citizens employed overseas

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Speaking Up

Standard Chartered Bank (the “Bank”) is committed to maintaining a culture of the highest ethics and integrity, and in compliance with all applicable law, regulation and internal policy. As part of this commitment, the Bank has a ‘Speaking Up’ programme through which genuine concerns in this regard can be raised. Members of the public can securely raise Speaking Up concerns through this hyperlink, which is hosted on behalf of the Bank by a third party ‘InTouch’. Examples of concerns that can be raised through this website are concerns that relate to accounting, internal accounting controls or auditing matters and concerns relating to bribery or banking and financial crime. Concerns received will be forwarded to the Bank’s investigations team for review. Complaints relating to SCB banking services should not be raised through this site in the first instance, but through the SCB branch network, contact centres, Relationship Managers or the ‘Contact Us’ webpage.

Disclaimer

Please note that this hyperlink will bring to you to another website on the Internet, which is operated by InTouch, an independent company appointed by the Bank to support its Speaking Up programme. Please be mindful that when you click on the link and open a new window in your browser, you will be subject to the additional terms of use of the website that you are going to visit.

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